Business News

PepsiCo expands presence in plant-based space with acquisition of Health Warrior brand 

01 Nov 2018 --- PepsiCo has acquired Health Warrior, a US-based nutrition company that makes plant-based products including bars. The transaction will further expand the company's nutrition portfolio and marks the first investment led by the PepsiCo HIVE, a new entity within PepsiCo designed to grow emerging brands.

Startup Innovation Challenge 2018 nominees: Alternative proteins, upcycling side-streams

01 Nov 2018 --- The role of start-ups in shaping the future of the food and beverage industry is pronounced. Their role as thought leaders has driven multinational companies and legacy brands to invest in them – and learn from them: significant players are going small in their strategy.  At HiE 2018, which will be held in Frankfurt at the end of November, a diverse range of start-ups that encompasses ingredients, technologies or services and plant-based finished products will compete for individual awards at the event. Here FoodIngredientsFirst takes a look at the technologies that are competing this year, with comments from the nominees.

Enhanced beverage portfolio: Keurig Dr Pepper to acquire Core in US$525m deal

28 Sep 2018 --- Keurig Dr Pepper (KDP) has entered into a definitive agreement to acquire enhanced beverage company Core Nutrition LLC at a value of US$525 million, or approximately US$435 million net of anticipated tax benefits. The acquisition represents KDP's latest move in the evolution of its allied brands portfolio.

Polyol ambitions: Sunar Misir invests in sorbitol and maltitol capacity

24 Sep 2018 --- Sunar Misir plans to reach an installed capacity of 100,000 tons for its sorbitol and maltitol facility in Adana (Turkey) by the end of 2019. Sunar Mısır has over 33 years of experience with corn-based ingredients and offers sustainably-sourced, Non-GMO starches and starch derivatives for the global market. 

Evolva net loss narrows, on track to deliver on set targets

10 Aug 2018 --- Swiss-headquartered biotechnology and fermentation ingredient supplier Evolva has reported that product sales doubled, reaching CHF1.8 million (US$1.8 million) in the first half of 2018. Total revenues reached CHF3.8 million in the first half of 2018, up 6% on last year, while their net loss narrowed to CHF14.7 million (first half 2017 loss CHF20.3 million).

DSM enters UK distribution partnership with Salutivia

10 Aug 2018 --- Salutivia has been appointed as the UK distributor for DSM Nutritional Products within the food, nutrition and supplement markets for customers served through the DSM distributor supply chain.

Prebiotic, aloe-infused water targets electronic music festival marketing boost

09 Aug 2018 ---Detoxwater, the prebiotic, aloe-infused water brand has announced its partnership as the exclusive enhanced bottled water for the 10th Annual Electric Zoo electronic music festival to be held in Randall’s Island Park this upcoming Labor Day in New York. 

Retail merger terminated: Rite Aid and Albertsons call off US$24 billion deal

09 Aug 2018 --- Albertsons Companies, one of the US’ largest grocery retailers, and leading drugstore chain Rite Aid Corporation have mutually agreed to terminate their previously announced merger agreement. The US$24 billion deal including debt, announced in February, has faced push-back from a number of retail investors as well as top ten shareholder Highfields Capital Management. The retailers said late Wednesday that they mutually agreed to remain separate. They canceled a shareholder meeting on the deal planned for Thursday.

Raisio looks to Benecol brand growth amid company “renewal”

08 Aug 2018 --- Raisio is targeting renewed growth for its “star” international brand Benecol, with an increased focus on marketing products featuring the cholesterol-lowering plant stanol esters. The strategy includes a €2 million (US$2.3 million) marketing investment in the brand during Q2 and the opening of a new entity to serve the strong Irish market, as well as the launch of product innovations, including a new cereal bar line which uses the ingredient.

DSM reports surge in Q2 profit boosted by “exceptional vitamin pricing environment”

01 Aug 2018 --- Specialty chemicals company DSM has reported a second-quarter core profit of €508 million (US$593.2 million), up 35 percent compared to Q2 2017, boosted by an “exceptional vitamin pricing environment” and cost cuts. The company has further confirmed its outlook for the full year, based on expectations of an Adjusted EBITDA growth towards 25 percent and a related higher ROCE growth.

Lonza ups full year outlook as Capsugel integration starts to boost business

25 Jul 2018 --- Lonza has updated its outlook for the full year after reporting 8.2 percent organic (like-for-like) sales growth, double-digit organic CORE EBITDA and CORE EBIT growth during the first half of 2018. The company attributes growth to the successful integration of Capsugel and “buoyant demand” from pharmaceutical and biotech clients for products including viruses for gene therapy.

Botanical expansion: Sensient Technologies acquires Mazza Innovation

13 Jul 2018 --- Sensient Technologies Corporation, a global supplier of colors, flavors and fragrances, has acquired Canadian botanical extraction company Mazza Innovation. Effective immediately, the acquisition comes just one week after Mazza Innovation announced an exclusive, long-term supply agreement with BASF, under which the Canadian company will use its PhytoClean Method to provide BASF with specific plant extracts to develop new solutions for cosmetic applications. Mazza Innovation CEO Benjamin Lightburn tells NutritionInsight that the terms of the acquisition have not been disclosed, adding that the company will continue to support all of its existing customers, including BASF and this partnership.

Bioavailability emerges as a key nutritional driver, says Frutarom Natural Solutions Chief

04 Jul 2018 --- The demand for natural, sustainable and integrated solutions, as well as growing calls for expressing bioavailability are all key drivers for today’s health and nutrition products, Frutarom’s President of Natural Solutions, Yoni Glickman has said. The business unit, which offers Flavor & Color, Food Protection and Health Benefits, accounts for about 25 percent of Frutarom’s turnover. An integrated cognitive health platform will be just one of the target areas for growth for the business, in the run-up to Frutarom’s US$7.1 billion acquisition by International Flavors & Fragrances (IFF), which was announced last May.

Plant-based strategy: Dean Foods increases investment in flaxseed dairy alternatives brand

04 Jul 2018 --- Dean Foods Company has increased its ownership percentage and taken a majority stake in Good Karma Foods, a US brand known for its flaxseed-based milk and yogurt alternatives. The investment points to Dean Foods' commitment to plant-based foods and beverages at a time when more and more consumers are looking to minimize their consumption of animal-derived products.

Probiotic expansion: General Mills leads investment in GoodBelly parent

21 Jun 2018 --- General Mills' venture arm, 301 Inc., is leading a US$12 million round in funding in NextFoods the parent company of GoodBelly Probiotics. Additional capital is coming from existing investors, including Emil Capital Partners. NextFoods was founded in 2007 by Todd Beckman and Steve Demos, who founded WhiteWave Foods, the owner of Silk plant-based milk.

Algaia receives €4 million boost for seaweed extract production unit

22 May 2018 --- French biomarine company Algaia is to install a new specialty seaweed extract production unit in its Lannilis (Brittany-France) manufacturing facility, following an additional €4 million in equity granted by the company’s main shareholder, Maabarot Products Ltd. The boost will also support further expansion of its production facility and innovation center located in Saint-Lo (Normandy-France).

Lonza: Positive start to 2018, driven by expanding healthcare businesses

04 May 2018 --- Lonza has reported a “positive” start to 2018 led by the businesses along the healthcare continuum. The former Capsugel business, now part of Lonza Pharma & Biotech and Lonza Consumer Health, has shown a strong performance following good progress on business and functional integration, the company reports, without giving any details on financial figures. For the coming months, Lonza has announced plans to expand facilities in the US.

Nexira enters strategic partnership for nutritionals, not giving up its acquisition plans

02 May 2018 --- Nexira, a global leader in natural and organic ingredients for the food, health and nutrition industries, has announced a strategic partnership agreement with Omega Pharma NV, one of the largest OTC healthcare companies in Europe and Inqpharm Group (a Zaluvida company), a specialty pharmaceutical company.

Fermentalg reports on Q1 revenue as US expansion begins

20 Apr 2018 --- Fermentalg, a French supplier of microalgae for nutrition and health, has reported first-quarter revenue of €232k whereas no income was recorded in Q1 2017. As of 31 March 2018, Fermentalg held gross cash and cash equivalents of €19.5 million compared to €21.8 million at 31 December 2017. Cash burn amounted to a €2.5 million outflow, stable compared to the previous quarter (excluding financing activities) and down €0.5 million from Q1 2017. Q1 was marked by progress achieved in bringing to market its DHA ORIGINS range of algal oils naturally rich in omega 3, as well as a US distribution agreement with Stauber, a leading North American supplier of specialty ingredients, the company reports. 

DSM benefits from high vitamin prices in Q1, raises outlook

12 Apr 2018 --- DSM has pre-announced better-than-expected earnings for the first quarter and raised its 2018 outlook on upbeat sales, with an additional boost from high prices in vitamins. The first quarter benefited from an additional Adjusted EBITDA contribution estimated at €165 million from an exceptional vitamin pricing environment. DSM raised its 2018 adjusted EBITDA forecast to "toward" 25 percent from earlier guidance for a rise of at least high single-digit growth.